Family office in JerseyOverview
Jersey has no dedicated family office statute, so the regulatory position depends on what each entity in the structure does. Under the Financial Services (Jersey) Law 1998 (FSJL), acting as trustee, providing directors or administering companies by way of business is trust company business, managing or advising on investments for others is investment business, and servicing funds is fund services business, each requiring JFSC registration. A private trust company that acts only for a specific trust or trusts, does not solicit the public and is administered by a JFSC-registered trust company business can rely on the exemption in the Financial Services (Trust Company Business (Exemptions)) (Jersey) Order 2000, provided its name is notified to the JFSC. Multi-family offices that serve unrelated families fall squarely within the FSJL.
Anti-money laundering supervision is a separate and wider question. Amendments to Schedule 2 of the Proceeds of Crime (Jersey) Law 1999 that took effect on 30 January 2023 removed the former AML exemption for PTCs, which must now register with the JFSC as Schedule 2 businesses. The test for AML registration is whether a person acts 'as a business', which is broader than the FSJL's 'by way of business' test, and the JFSC has said it expects most single-family offices to register. In-scope entities appoint a money laundering reporting officer and compliance officer, carry out a business risk assessment and apply the Money Laundering (Jersey) Order 2008 and the AML/CFT/CPF Handbook; an anti-money laundering services provider may be appointed if the JFSC's conditions are met. Family office employees acting as trustees within their salaried role, and unpaid non-professional trustees, are generally outside the regime.
The structural core is usually a discretionary trust under the Trusts (Jersey) Law 1984, whose trustee is either a professional Jersey trust company or a PTC on whose board family members can sit alongside professional directors. The PTC's shares are commonly held by a purpose trust or a Jersey foundation, so no individual owns the trustee. Jersey trusts created since the 2006 amendments can last indefinitely, settlors can reserve investment and other powers, and the law contains firewall provisions against foreign heirship and matrimonial claims. Foundations under the Foundations (Jersey) Law 2009 offer a civil-law style alternative with legal personality: the council must include a qualified member registered under the FSJL, a guardian supervises the council, and the founder may reserve rights to amend or terminate. Below the trust or foundation sit holding companies, limited partnerships and, where family members and employees invest together, a Jersey Private Fund or a family arrangement that falls outside the JPF rules.
Taxation is neutral rather than incentive-based. Most companies pay 0% income tax, regulated financial services companies 10% and utilities and Jersey property income 20%; individuals resident in Jersey pay 20%. There is no capital gains, inheritance or wealth tax, although stamp duty applies on probate and property. Groups with consolidated revenue of EUR 750 million or more are subject to the Pillar Two rules Jersey has implemented. Tax-resident companies carrying on relevant activities such as holding company, fund management or headquarters business must show they are directed and managed in Jersey with adequate people, premises and expenditure. Families who want to live on the island can apply for high value residency, which since 2025 requires a minimum annual tax contribution of £250,000 for new arrivals.
Key benefits
- Long-established trust law with reserved powers, no perpetuity limit for modern trusts and firewall protection against foreign forced-heirship and matrimonial claims
- Private trust companies let family members sit on the trustee board while day-to-day administration stays with a regulated Jersey trust company
- Choice of trust, foundation, company and partnership vehicles to suit common-law and civil-law families alike
- Tax neutrality: 0% standard company rate and no capital gains, inheritance or wealth tax, so tax is generally paid where family members live
- Jersey Private Fund regime with a 24-hour consent process for co-investment platforms, and a carve-out for purely family arrangements
- Experienced Royal Court with a substantial body of trust case law, including applications to set aside mistaken transactions and directions for trustees
- Proximity to London and a high value residency route for principals who want to relocate
Requirements
- Perimeter review for every entity: trust company business, investment business and fund services business under the FSJL, and Schedule 2 AML activity under the Proceeds of Crime (Jersey) Law 1999
- PTC exemption conditions: the PTC is a company, acts only for a specific trust or trusts, does not solicit or serve the public, is administered by a JFSC-registered trust company business and its name is notified to the JFSC
- Schedule 2 registration with the JFSC for PTCs and for family offices that act 'as a business'; carrying on unregistered Schedule 2 business is a criminal offence punishable by up to seven years' imprisonment and a fine
- AML/CFT/CPF framework: MLRO and MLCO, business risk assessment, written policies, customer due diligence on settlors, beneficiaries and protectors, and record keeping under the Money Laundering (Jersey) Order 2008
- Foundations: a council member who is registered under the FSJL (the qualified member), a guardian, a charter filed with the Registrar and a nominated person to provide beneficial ownership information
- Beneficial ownership and control information filed with the JFSC Registry under the Financial Services (Disclosure and Provision of Information) (Jersey) Law 2020 and kept up to date; errors must be corrected within 21 days of becoming aware of them
- Economic substance for Jersey tax-resident companies carrying on relevant activities (including holding company, fund management and headquarters business): directed and managed in Jersey, core income-generating activities on island, adequate staff, premises and spending; penalties of up to £10,000 for a first failing period and up to £100,000 for later periods
- CRS and FATCA: classification of trusts, PTCs and investment entities and annual reporting to Revenue Jersey
- Jersey Private Fund: a JFSC-registered designated service provider, investors who are professional investors or commit at least £250,000, signed investment warnings and consent under the Control of Borrowing (Jersey) Order 1958
- Standalone family office with staff: a business licence and permissions to employ people who are not entitled or licensed under the Control of Housing and Work (Jersey) Law 2012, and registrations for social security, income tax and data protection
Structure designs
Discretionary trust with a private trust company
The classic Jersey family structure. A PTC acts as trustee, with family members and professional directors on its board and a JFSC-registered trust company as administrator. The PTC is usually owned by a purpose trust or foundation. Suits families who want a say in trustee decisions without personal ownership of the trustee.
Jersey foundation as the governance hub
A foundation with legal personality holds the family's assets or the shares in a PTC. The council, which must include a qualified member, manages the assets; a guardian oversees it. Suits civil-law families and those who prefer an entity to a trust relationship.
Family holding or investment company
A Jersey company, typically owned by the trust or foundation, holds investment portfolios, operating businesses or real estate SPVs at the 0% standard rate. Holding company activity triggers economic substance, so board meetings and decisions must genuinely take place in Jersey.
Jersey Private Fund or family co-investment arrangement
Minimum commitment £250,000 unless a professional investor
A JPF pools capital from family members, related families or trusted co-investors, with a regulated designated service provider and a 24-hour JFSC consent. Arrangements purely between family-connected persons or for employees may fall outside the JPF rules if the JFSC's Annex B criteria are met.
Embedded or standalone single-family office
The office can sit inside a regulated Jersey trust company, which supplies staff and premises, or be set up as its own company with employees and leased offices. Either way, Schedule 2 registration and the investment business perimeter should be assessed before the office starts work.
Licensed multi-family office
For independent offices serving several unrelated families, registration under the FSJL for trust company business and, where relevant, investment business or fund services business, with full JFSC supervision, capital, insurance and reporting requirements.
Step-by-step process
- 1
Family and tax mapping
Identify family members, their residence and nationality, the assets to be contributed and the outcomes wanted. For UK-connected families, the residence-based inheritance tax rules in force since 6 April 2025 and the four-year FIG regime are central to deciding how the trust is settled and funded.
- 2
Perimeter and structure design
Map each proposed entity against the FSJL, Schedule 2 and the economic substance law; decide between trust and foundation, whether a PTC is needed, who sits on its board and which regulated trust company will administer it.
- 3
Draft governance documents
Prepare the trust deed or foundation charter and regulations, PTC articles, purpose trust, letters of wishes, protector or guardian terms, and the family constitution and investment committee charter that sit alongside them.
- 4
KYC, incorporation and registration
The administering trust company completes due diligence and source-of-wealth checks, incorporates the PTC, foundation and companies through the JFSC Registry, notifies the PTC's name, files beneficial ownership information and submits any Schedule 2 registration.
- 5
Banking, custody and funds
Open bank and custody accounts, complete CRS and FATCA classifications and, where a co-investment vehicle is used, file the Jersey Private Fund application with the designated service provider.
- 6
Office set-up and people
For a standalone office, lease premises, apply for the business licence and staff permissions, register with Revenue Jersey and social security, and adopt the AML/CFT policies, risk assessment and MLRO/MLCO appointments.
- 7
Ongoing governance and review
Hold PTC board and investment committee meetings in Jersey, document substance, update beneficial ownership filings, and review the structure whenever family members move country or the next generation takes on roles.
Typical documents
- Certified passports and proof of address for the settlor or founder, PTC directors, protectors, guardians and adult beneficiaries
- Source-of-wealth narrative with evidence such as sale agreements, audited accounts, dividend history and inheritance documents
- Source-of-funds evidence and bank reference letters for the assets to be settled
- Family tree and chart of existing companies, trusts and foundations, showing ownership and control up to each beneficial owner
- Tax advice confirming the position in each family member's country of residence
- Draft trust deed or foundation charter and regulations, PTC memorandum and articles, and purpose trust deed
- Letters of wishes, protector or guardian appointment terms and the family constitution
- CRS self-certifications and US-person declarations for FATCA
- For Schedule 2 or FSJL registration: JFSC application forms, business plan, AML/CFT policies and risk assessment, and personal questionnaires for principal persons and key persons
- For a Jersey Private Fund: the JPF form, offering or disclosure document, investor warnings and the designated service provider's confirmation
How Legal Wealth helps
Legal Wealth helps the family decide whether Jersey should hold the governance and succession layer of its wealth, and how a trust, PTC or foundation there should connect with operating companies, investment platforms and residence plans elsewhere. We work with regulated Jersey trust companies and counsel to map the JFSC perimeter for each entity, prepare a well-documented source-of-wealth file, draft governance that reflects the family's values and test the structure against the tax rules of every country where family members live. Our approach is discreet and compliance-first, with continuity across generations at its centre.
Enquire with Legal WealthFrequently asked questions
Does a single-family office in Jersey need a JFSC licence?
There is no family office licence. Whether registration is needed depends on the activities: a PTC that meets the conditions of the 2000 Exemptions Order does not need trust company business registration, and an office managing only family assets may fall outside investment business. However, PTCs must register for AML supervision under Schedule 2, and the JFSC expects most single-family offices to register too, because the 'as a business' test is broad.
How does a Jersey PTC differ from appointing a professional trustee?
With a PTC, the trustee is a company dedicated to the family's trusts, and family members or trusted advisers can sit on its board. A JFSC-registered trust company administers it, which is a condition of the exemption. A professional trustee involves less governance work for the family but gives it less direct involvement in decisions.
What tax does a Jersey family structure pay?
Most Jersey companies, including PTCs and holding companies, pay 0% income tax; Jersey property income is taxed at 20%. There is no capital gains, inheritance or wealth tax. Trusts with non-resident beneficiaries are generally not taxed on non-Jersey income. The main tax analysis is usually in the countries where the settlor and beneficiaries live.
Is beneficial ownership information public in Jersey?
No. Beneficial owners and controllers of Jersey entities are filed with the JFSC Registry, but the register is not public. Since 24 February 2025, banks and other obliged entities can search it for customer due diligence. The government consulted on legitimate-interest access, closing on 30 January 2026; families should check the current position before relying on privacy assumptions.
Can the family move to Jersey?
Principals can apply for high value residency under Regulation 2(1)(e) of the Control of Housing and Work (Jersey) Law 2012. New residents pay 20% on worldwide income up to £1.25 million and 1% above, a minimum of £250,000 a year, and are expected to have a net worth of at least £10 million. It is a housing and tax status: non-British and non-Irish nationals also need immigration permission.
How does Jersey compare with Guernsey and the Isle of Man?
All three are Crown Dependencies with similar tax neutrality and trust and foundation laws. Jersey has the largest trust and funds industry of the three and the JPF regime; Guernsey offers the Family PIF and recently brought all PTCs under its fiduciary licensing perimeter; the Isle of Man has a personal tax cap and a lighter current approach to family office-type services. Many families choose based on their existing trustee relationships and where the principals intend to live.
Last reviewed: 2026-10. Requirements, fees and timelines change. Information is general, reviewed on the date shown, and is not legal or tax advice.
Sources
- JFSC – Schedule 2 business: private trust companies and family offices FAQs
- JFSC – Jersey Private Fund guide
- JFSC – Guidance for accessing the obliged entity beneficial owner register
- Jersey Law – Taxation (Companies – Economic Substance) (Jersey) Law 2019
- Ogier – Single family offices and PTCs: AML registration in Jersey
- Government of Jersey – High value residency
